The good news: Wealth in the country reached an all-time high at more than $77 trillion in the third quarter of this year, according to data from the Federal Reserve.

The bad news: wealth for the average homeowner hasn’t returned to 2006 levels, according to Fannie Mae.

Doug Duncan, chief economist and vice president and Fannie Mae, called it a “lopsided recovery in household wealth” that benefits the wealthy more than others.

“The relatively stronger recovery in financial wealth has disproportionately benefited high net worth households,” he said in an online commentary. “At the same time, housing wealth has lagged significantly during the current recovery despite its instrumental role as the primary source of wealth among less wealthy households.”

It found the 2006-2009 housing downturn was more severe and has made a slower recovery than the hit taken by financial wealth. According to Fannie Mae, housing wealth plummeted 55 percent during the recession years and remains 28 percent below its peak.

On the other hand, financial wealth fell 17 percent, began its recovery sooner and is now 12 percent above its high-water mark.

It found that “the majority of households have not participated in the stock bull market that began in 2009 to the same degree as higher wealth households.”

The report called it “by far the worst performing recovery in ... housing wealth since record keeping began in 1952.”

Fannie Mae said the unbalanced recovery could have a significant impact on the overall economy because the wealth is concentrated among a few households – those with nonhousing equities that have more than recovered losses that began in 2006. The result is reflected in the restrained pace of consumer spending.